Quantbot Technologies LP Invests $3.12 Million in ServiceNow, Inc. $NOW

Quantbot Technologies LP acquired a new position in ServiceNow, Inc. (NYSE:NOW) during the second quarter, HoldingsChannel.com reports. The fund acquired 31,407 shares of the information technology services provider’s stock, valued at approximately $3,118,000.

Several other large investors also recently added to or reduced their stakes in the business. Millstone Evans Group LLC boosted its stake in shares of ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its position in shares of ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 135 shares during the period. Blueline Advisors LLC purchased a new stake in shares of ServiceNow in the 4th quarter worth $25,000. Measured Wealth Private Client Group LLC increased its stake in shares of ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Finally, Wealth Watch Advisors INC raised its holdings in ServiceNow by 432.3% in the 4th quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 134 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow News Roundup

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow expanded its multi-year partnership with Tech Mahindra to help enterprises move AI projects from pilot programs into production. The “Client Zero” approach combines ServiceNow’s AI platform with Tech Mahindra’s industry expertise, potentially increasing adoption, automation revenue and measurable customer outcomes. Tech Mahindra and ServiceNow Expand Partnership to Deliver Production-Ready Enterprise AI at Scale
• Positive Sentiment: Bank of America raised its ServiceNow price target to $150, citing the company’s positioning to monetize artificial intelligence as concerns about AI disruption to traditional software fade. The move contributed to broader bullish sentiment across software stocks. Bank of America Increases ServiceNow Price Target to $150
• Positive Sentiment: ServiceNow has gained substantially since its latest earnings report, which beat estimates on both adjusted earnings and revenue. Quarterly revenue increased 24% year over year, reinforcing the view that the company remains a leading enterprise AI and workflow platform. ServiceNow Up 41.1% Since Last Earnings Report
• Positive Sentiment: ServiceNow was also selected as a CNBC “Final Trade,” providing additional visibility and signaling continued support from some professional investors. Final Trades: ServiceNow, Vertex and Uber
• Neutral Sentiment: Despite the favorable company news, midday AI buying has been concentrated in government-facing companies such as Palantir and BigBear.ai rather than enterprise software, limiting near-term upside for NOW. How Are Traders Picking the Software Winners?
• Negative Sentiment: Investors continue to monitor competitive threats from newer AI-native automation platforms, including Serval, as well as ServiceNow’s premium valuation. Those concerns may encourage profit-taking after the stock’s sharp post-earnings advance. Serval Wants To Replace ServiceNow With AI That Builds Enterprise Automation

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the completion of the transaction, the director owned 46,690 shares in the company, valued at approximately $5,864,264. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of several recent research reports. BMO Capital Markets boosted their price target on ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price objective on ServiceNow from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Morgan Stanley set a $180.00 price objective on ServiceNow in a research note on Tuesday, July 21st. Guggenheim raised shares of ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a report on Wednesday, July 1st. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $175.00 price target (up from $160.00) on shares of ServiceNow in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.24.

ServiceNow Stock Up 0.2%

NYSE NOW opened at $128.73 on Monday. The stock’s 50 day moving average is $108.88 and its 200 day moving average is $105.66. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. The stock has a market cap of $133.11 billion, a PE ratio of 80.46, a P/E/G ratio of 2.26 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the company posted $0.81 EPS. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.